A court in Liechtenstein has been deliberating for two years on whether it is legal for two trustees to have unrestricted access to millions of dollars. These trustees, along with their lawyer, earn thousands of Swiss francs per day just by being physically present in court. The case, which is still ongoing, is just the […]
The US Securities and Exchange Commission (SEC) has denied Coinbase’s request for new cryptocurrency regulations. SEC Chair Gary Gensler stated that the existing rules are sufficient and apply to the crypto securities markets. Coinbase had filed a petition seeking regulatory clarity and a “yes or no” answer from the SEC, but the agency refused to […]
Fnality International has launched the first phase of its Sterling Fnality Payment System (£FnPS), a distributed ledger technology (DLT)-based wholesale payment system. The system enables banks to transfer British pounds by combining the benefits of blockchain technology with central bank-issued currency. The £FnPS is a collaborative effort between Fnality, UK regulators, and initial bank participants, […]
Fnality International has launched the first phase of its Sterling Fnality Payment System (£FnPS), a distributed ledger technology (DLT)-based wholesale payment system. The system allows banks to transfer British pounds by combining the benefits of blockchain technology with central bank-issued currency. The £FnPS is a collaborative effort between Fnality, UK regulators, and initial bank participants, […]
A former software security engineer at Amazon, Shakeeb Ahmed, has pleaded guilty to computer fraud charges in connection with the hacking of Nirvana Finance and another unnamed decentralized exchange (DEX). This marks the first conviction of its kind, with Ahmed being the first individual convicted for hacking a smart contract for a DEX.Ahmed exploited a […]
A former software security engineer at Amazon, Shakeeb Ahmed, has pleaded guilty to computer fraud charges in connection with the hacking of Nirvana Finance and another unnamed decentralized exchange (DEX). This marks the first conviction of its kind, with Ahmed being the first individual convicted for hacking a smart contract for a DEX.Ahmed exploited a […]
The Securities and Exchange Commission (SEC) has denied a rulemaking petition filed by Coinbase, a US-based crypto exchange. SEC Chair Gary Gensler supports the Commission’s decision, stating that existing laws and regulations already apply to the crypto securities markets. Gensler believes that the SEC addresses the crypto securities markets through rulemaking and emphasizes the importance […]
Binance, one of the leading cryptocurrency exchanges, recently conducted a survey to understand how its users are utilizing crypto in their daily lives. The survey revealed that a majority of users believe that crypto can help reduce income inequality. Over three-quarters of the respondents stated that they use crypto to earn additional income alongside their […]
The Chair of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has indicated that the regulatory body is reevaluating its stance on spot Bitcoin exchange-traded funds (ETFs). Gensler mentioned that recent court rulings in the District of Columbia have prompted the SEC to take a fresh look at these applications. Historically, the SEC has […]
The Securities and Exchange Commission (SEC) is implementing new disclosure requirements for public companies regarding material cybersecurity incidents. These requirements aim to provide investors with timely and consistent information about risks that can cause significant losses. The rules have two components: companies must disclose material cybersecurity incidents within four business days of determining their materiality, […]
